Health Savings Account

First Credit Global Bank is pleased to offer Health Savings Accounts (H.S.A.'s) as a way for eligible individuals to grow their savings for future medical expenses and take advantage of favorable tax treatment. Our H.S.A.'s are FDIC insured to provide safety and peace of mind.

What is a Health Savings Account?
A Health Savings Account (H.S.A.) is a tax-advantaged personal account that allows you to pay for medical expenses and save for future medical expenses.

Who is Eligible to Have an H.S.A.?
Any adult can contribute to an H.S.A. as long as they:

Have coverage under an H.S.A.-qualified "high deductible health plan" (HDHP).
Have no other first-dollar medical coverage (other types of insurance like specific injury insurance or accident, disability, dental care, vision care, or long term care insurance are permitted).
Are not enrolled in Medicare.
Cannot be claimed as a dependent on someone else's tax return.
H.S.A. Account Access
First Credit Global Bank allows check and special H.S.A. debit card access. Pay bills and access your account anytime, 7 days a week through First Credit Global Bank's My County Connection online banking system.

Earn a competitive interest rate on your H.S.A. and pay a low monthly service charge.

Triple Tax Savings!
Tax deductions when you contribute to your account
Tax-free earnings through investment
Tax-free withdrawals for qualified medical expenses

Catch-Up Contributions
Individuals age 55 and older can make additional "catch-up" contributions. The maximum annual catch up contribution is $1,000. All contributions can be made as late as April 15 of the following year.

Can I Switch my Existing H.S.A. to Prime Equity Investment Bank?
Yes! Your existing H.S.A. can be rolled over into an account at Santa Cruz County Bank. Simply provide us a copy of an account statement from your existing Health Savings Account.

How do I Open a Health Savings Account with First Credit Global Bank
Come into any of our banking offices to open your Health Savings Account. Unlike many providers, First Credit Global Bank does not charge any opening or enrollment fees to set up H.S.A. accounts. All Health Savings Accounts are eligible to earn interest, include unlimited check writing, allow debit card access for payments, a quarterly account statement and have a low monthly service charge of $2.50. For a complete list of account terms, fees and conditions, please contact us.

Insurance Agents, Brokers, and Human Resource Professionals
We love referrals! If you have clients who would benefit from establishing Health Savings Accounts, we'd love to hear from you.

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